Ridi Power Company Unveils Book Closure Date For 42.1% Dividend and 21st AGM; Company Proposes to Issue 1: 0.50 Right Shares

Ridi Power Company (RIDI) announces the book closure date for a 42.1% dividend on Magh 18.

The company's meeting of the board held on 6th Mangsir 2079, has proposed a 42.1% dividend from the paid-up capital. The paid-up capital of the company stands at Rs. 1.10 Arba. 40% bonus shares worth Rs. 44,25,43,200 and 2.1% cash dividend (including tax) worth Rs 2,32,33,518 have been proposed. The shareholders maintained before Magh 18 are entitled to dividend payout and can attend the 21st AGM of the company to be held on Magh 29, 2079.

Furthermore, the board of director meeting held on 4th Magh (today) has proposed to issue 77,44,506 units of rights shares (1: 0.50 ratio right shares) for shareholders. This will be issued from the paid-up capital of Rs. 1,54,89,01,200 after the adjustment of the aforementioned bonus shares. 

Note that the proposal is subject to approval from Electricity Regulatory Commission (ERC) and endorsement from the company's upcoming AGM. As of writing, RIDI has an LTP of Rs. 574.